Europe

Russia Dumping US Treasuries? But Why the Heck in Belgium?

by Wolf Richter •  • Comments Off on Russia Dumping US Treasuries? But Why the Heck in Belgium?

Belgium is known for its surprises. For example, it got by amazingly well for a couple of years without a national government, to the chagrin of a lot of people. Now that tiny country with a tiny economy is suddenly piling up a mountain of US Treasuries.

France Thumbs Nose at Obama Over Sanctions: Will Deliver Two Warships to Russia

by Wolf Richter •  • Comments Off on France Thumbs Nose at Obama Over Sanctions: Will Deliver Two Warships to Russia

The battle between the US and France has been brewing for months, but now it came to a head: the French government decided to spite the US and move forward with the contract to deliver two warships to Russia. To heck with those silly sanctions.

Spanish Judge Crosses Line by Sending Bank CEO to Jail

by Don Quijones •  • Comments Off on Spanish Judge Crosses Line by Sending Bank CEO to Jail

By Don Quijones: The Spanish magistrate Elpidio Silva is just about the only judge in the Western hemisphere to have sent the CEO of a bailed-out too-big-to-fail bank to jail. Turns out, that was huge mistake.

Mutiny of the Lab Rats: Europeans Grow Weary of EU Experiment

by Don Quijones •  • Comments Off on Mutiny of the Lab Rats: Europeans Grow Weary of EU Experiment

By Don Quijones: Europeans are pushing back against the EU Super State. Tired of being treated as lab rats in a dysfunctional economic and political experiment, a large minority will vote for euroskeptic parties in the nearing European elections.

Putin Parties With German Ex-Chancellor, Sanctions Be Damned

by Wolf Richter •  • Comments Off on Putin Parties With German Ex-Chancellor, Sanctions Be Damned

Putin is a master at this game. Even as the sanction spiral is supposed to strangle his ambitions for the Ukraine, he set up a photo op of incomparable ingenuity. And his confidant, ex-Chancellor of Germany Gerhard Schröder stepped in it with gusto.

LEAKED: Draghi’s Sudden Switcheroo On QE

by Wolf Richter •  • Comments Off on LEAKED: Draghi’s Sudden Switcheroo On QE

It happened at a private meeting with top lawmakers in Germany during a two-day shindig.

Liars, Damned Liars, and Spanish Banks

by Don Quijones •  • Comments Off on Liars, Damned Liars, and Spanish Banks

By Don Quijones: “Spain’s banks are back on track,” the Spanish Banking Association announced to great fanfare. That’s the official story. But these banks reported financial results that “bear no relation to reality.”

‘People Don’t Grasp Yet What European Unification Will Cost Them’

by Contributor •  • Comments Off on ‘People Don’t Grasp Yet What European Unification Will Cost Them’

By Cassandra: In the South of the Eurozone, people feel crushed, their future sacrificed on the altar of the Holy Euro. I’m in the Netherlands, so north of the Great Divide. We’re not suffering as much as the people in Greece, Spain, and Portugal. Not yet.

What the Heck is Going on With US Treasuries In Belgium?

by Wolf Richter •  • Comments Off on What the Heck is Going on With US Treasuries In Belgium?

The tiny country of Belgium with a GDP of $484 billion, a country that became famous to the chagrin of some people because it did just fine for a couple of years without a national government – well, it’s growing an enormous mountain of US Treasuries.

“Uncreative” Destruction: The Troika’s Hostile Takeover of Europe

by Don Quijones •  • Comments Off on “Uncreative” Destruction: The Troika’s Hostile Takeover of Europe

By Don Quijones: The story is now playing out across Europe’s bailed-out nations. The losers are by and large the poor and middle classes, while the beneficiaries are the same as always: the world’s largest multinational corporations and banks.